On February 20, 2026, Avalanche's native token AVAX saw a significant 25% surge in trading volume, reaching $248.87 million, as it traded around the $9.25 price level. This activity pushed the price against a key descending trendline resistance formed after the violent market crash on October 10, 2025, which initiated a prolonged bearish trend for the asset.
Technical indicators on the daily chart showed a bullish MACD crossover, with the histogram turning slightly positive, signaling a potential shift in short-term momentum away from bearish control. However, the Relative Strength Index (RSI) climbed only to 42, indicating improved but not yet fully bullish momentum, as it remained below the neutral 50 level.
Data from CryptoQuant revealed elevated Spot Taker Buy Dominance and Futures Taker Buy Dominance, suggesting aggressive buying activity and participation across both spot and leveraged derivative markets. This combination points to active demand and potential accumulation beneath the current price action, though it has not yet translated into a decisive structural breakout above the descending resistance.
The broader macro picture remains challenging for AVAX. On the weekly chart, the token continues to be constrained by a multi-year downtrend resistance that has capped every major rally since 2021, keeping AVAX in a bear market framework. Weekly RSI was near 31.78, and the weekly MACD stayed below zero, confirming weak longer-term momentum. Analysts emphasize that for a genuine trend reversal to be confirmed, AVAX needs a weekly close above this macro resistance level. Until then, the $7.29 price level acts as the critical structural support that bulls must defend to prevent a continuation of the long-term downtrend.
